Business News
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Cabinet approves Rs52b FCAs recovery | The Express Tribune
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[ad_1] ISLAMABAD: The government has sought policy guidelines from the power regulator for transferring the burden of a staggering Rs52 billion to the consumers on account of fuel charges adjustments (FCAs) for the months of June and July, 2022. The National Power Regulatory Authority (Nepra) would calculate this amount under the period of eight months…
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Biden nominates Banga to head World Bank | The Express Tribune
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[ad_1] WASHINGTON: US President Joe Biden on Thursday nominated Indian-American business executive Ajay Banga to become president of the World Bank, lauding his experience forging public-private partnerships to address financial inclusion and climate change. The World Bank on Wednesday said it expects to select a new president by early May to replace David Malpass, who…
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SBP forex reserves register meagre rise
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[ad_1] A person counts $100 banknotes. — AFP/File Foreign exchange reserves held by the State Bank of Pakistan (SBP) registered a meagre rise as the cash-bleeding country tries to woo the International Monetary Fund (IMF) for unlocking a much-needed $1.1 loan tranche. In a statement, the central bank — without mentioning the reason — said…
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When is the last date for encashment of withdrawn prize bonds?
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[ad_1] An undated image of Rs200 prize bonds . — Online/File All holders of prize bonds worth Rs7,500, 15,000, 25,000, and 40,000 can redeem the withdrawn prize bonds till June 30, 2023 after the State Bank of Pakistan (SBP), with the federal government’s approval, extended the date. It should be noted that earlier, the government had…
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Gold rate rises in Pakistan despite recovery in rupee
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[ad_1] An undated image of a customer looking at the gold bangles at a store. — AFP/File Gold regained lost ground on Thursday, as bargain hunting trickled in after prices dropped a day earlier in response to the continued recovery of the Pakistani rupee against the US dollar. Data released by the All-Pakistan Sarafa Gems…
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SBP reserves rise by $66m to $3.258b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank rose by $66 million to $3.258 billion in the week ending Feb 17, the State Bank of Pakistan (SBP) said on Thursday, while its total liquid foreign reserves stood at $8.726 billion. Pakistan, which is a $350 billion economy, is facing economic turmoil, with…
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Naveed Qamar glad over revival of Pak-US trade group
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[ad_1] Minister for Commerce Syed Naveed Qamar meeting with US Special Representative for Commercial and Business Affairs Dilawar Syed at the Embassy of Pakistan in Washington on February 22, 2023. The News WASHINGTON: Minister for Commerce Syed Naveed Qamar said the Pakistan-US Trade Investment Framework Agreement (TIFA) ministerial meeting is crucial to enhancing bilateral trade, which…
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President Alvi approves mini-budget | The Express Tribune
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[ad_1] ISLAMABAD: President Dr Arif Alvi on Thursday approved the Finance (Supplementary) Bill 2023, also known as the mini-budget. According to the statement from Aiwan-e-Sadr, the approval was given under Article 75 of the Constitution which states that when a bill is presented to the president for assent, the president shall, within 10 days assent…
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Ishaq dar meets US envoy ahead of virtual IMF talks
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[ad_1] Ambassador of the United States of America to Pakistan Donald Blome called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar at Finance Division, Islamabad, on February 23 2023. — Finance Division Ahead of an important meeting between the International Monetary Fund (IMF) and Pakistan officials, United States of America Ambassador Donald…
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Pakistan to clinch IMF deal ‘any day now’: commerce minister | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Commerce Syed Naveed Qamar said Wednesday that the International Monetary Fund (IMF) is likely to announce its staff level agreement with Pakistan on the Extended Fund Facility (EFF) by this week. “Pakistan has taken all the measures needed to unfreeze a $6.5 billion credit line and expects to clinch the…
